There is important investment news from the blockchain game market, which has been in the background lately with the AI coin trend. a16z Crypto and DWF Labs have allocated $13.8 million for this game coin.
$13.8 million invested in this game coin
Yield Guild Games (YGG), a gaming guild that invests in NFTs and virtual world economies of blockchain-based games, recently closed a token sale round, raising a substantial $13.8 million in funding. Giants such as a16z Crypto and DWF Labs contributed to the funding round. The company plans to use the funds to further develop its own tokens.
Web3 #gaming just got a power-up with our $13.8m round led by @DwfLabs w/ participation from @a16zcrypto @SanctorCapital @SanghaCapital @glxydotgg 🚀
Join the community Update AMA with the YGG Core team tonight!🔥
Check out the full article below!👇https://t.co/DAqKG5rVeR
— Yield Guild Games (@YieldGuild) February 17, 2023
Yield Guild Games (YGG) price rises by double digits
Ranking 335th by market capitalization, YGG rose by more than 20% after the $13.8 million investment news. Its price peaked at $0.4134 and retains most of its gains at the time of writing. YGG’s monthly price chart shows that the last rally was instrumental in breaking a critical resistance.
What is Yield Guild Games? Why is investment in gaming coin important?
YGG stands out as a decentralized gaming guild that invests in blockchain-based games. It aims to be a key player in the rapidly expanding world of play to win (P2E, play-win) games. The company’s goal is to create a community of players that can work together to win prizes in various Blockchain-based games. In the meantime, let’s mention that Yield Guild Games is partnering with Blockchain games like Axies Infinity, League of Kingdoms, F1 Delta Time and The Sandbox.
The company’s cryptocurrencies are tokens that act as a reputation system for players. These tokens are designed to reward players who contribute to the YGG community by providing liquidity or participating in governance. The token is also used to rank players within the YGG community and is expected to have value in the wider gaming ecosystem.
Giants like a16z Crypto and DWF Labs took part in the funding round
The $13.8 million funding round is a major milestone for YGG, which has already raised $9.9 million in startup and private rounds from investors including a16z, Delphi Digital and Bitkraft Ventures. The latest round of funding includes investments from a16z Crypto, a leading venture capital firm that has previously invested in several key Blockchain and crypto-related companies.
Gabby Dizon, CEO of YGG, said in a statement, “We are excited to welcome a16z Crypto and DWF Labs as investors at YGG. This round of funding will help us take our win-win gaming vision to the next level and continue to develop the spirited reputation token that we believe will be an important part of the blockchain gaming ecosystem.”
YGG’s success highlights the growing interest in the play-to-win model, which is rapidly gaining popularity in the gaming industry. The company’s unique approach to investing in NFTs and virtual world economies positions it as a key player in the rapidly expanding blockchain-based gaming world. cryptocoin.comIn this article, we have given the partnership news from another game project Oasys.
